Several corps were suspended for reporting failures

The PSE (Link) has informed four well-known companies that their shares would be suspended at 9 a.m. today if the 2023 annual reports are not published. The companies that have been notified are Tony Tius AgriNurture (ANI 0.57, down 1.7%; 102% avg. Vol), Philippine Infradev (INFRA 0.53, up 1.9%; 262% avg. Vol) and two from Pseudo-Tycoon Dennis Uy, Chelsea Logistics (C 1.30, plus 4.0%; 526% average abv) And Phoenix Petroleum (PNX 4.17, down 0.2%; 78% avg. Vol). Should any of these companies fail to file their annual report before 9:00 a.m., they will remain suspended for up to three months until the report is filed. If nothing has changed after three months, the PSE must initiate compulsory delisting proceedings.

MB conclusion: These companies are not a random sample and are not representative of the PSE as a whole. Will ANI, INFRA, C and PNX try their luck by the deadline, or will one of these companies end up in a state of suspension for failing to fulfill one of the most fundamental components of public corporate life? As usual, retail bag holders will just have to wait and see what the owners do.

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